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Hungary : Instead of expansion, redesign is the main trend - H1 2014

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Hungary : Instead of expansion, redesign is the main trend - H1 2014

No new developments were completed in H1 2014. Development activity is almost completely frozen. Only a few projects are proposed to be built, focusing on Budapest, while timing is uncertain.

Modern retail stock stands at 2.1 million sq m, including over 1.1 million sq m of shopping centre space and 680,000 sq m of strip mall type retail schemes.

Retail sales in the first 5 months of 2014 surpassed the previous year’s volume.

In terms of demand, the market is mainly characterized by expansions and redesigns. Several fashion brands are reshaping their units. High-end fashion brands are focusing on expansion and open in top locations, primarily in Budapest.

Well-located stores in the city’s top shopping centres range between €50 and €70, while other shopping centres in Budapest achieve €20 to €30.

Source : DTZ (Groupe UGL)

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Keywords : DTZ